Tinjauan Yuridis Perlindungan Terhadap Investor Dalam Perusahaan Terbuka Berkaitan Dengan Pemecahan Saham Dan Penggabungan Saham Oleh Perusahaan Terbuka

Abstract

Corporate actions in the form of stock splits and reverse stock splits are common strategies undertaken by publicly listed companies to adjust share prices in the market and increase liquidity. However, these actions also carry risks for investors, particularly minority shareholders. This study aims to address several legal questions concerning the procedures and processes of stock splits and reverse stock splits conducted by publicly listed companies in Indonesia, the legal protection guarantees for minority shareholders in the event that a publicly listed company intends to carry out a stock split and/or reverse stock split, as well as the legal protection guarantees for investors in publicly listed companies in relation to stock splits and reverse stock splits conducted by such companies. This research and thesis writing employ a normative legal research method with a descriptive approach. The data consists of primary, secondary, and tertiary legal materials, collected through literature study techniques and analyzed using a qualitative normative data analysis method. This study concludes that the process and procedures for stock splits and stock mergers in Indonesia are complexly regulated in the Limited Liability Company Law, the Capital Market Law, and regulations issued by the Financial Services Authority and the Indonesia Stock Exchange. In addition, legal protection for minority shareholders is reflected in the provisions of the Limited Liability Company Law which provides an opportunity for shareholders to sue the company with representatives from 10% (ten percent) of shareholders. Furthermore, the guarantee of legal protection for investors in public companies is through transparency and disclosure of information that must be carried out by the company. The Financial Services Authority and the Indonesia Stock Exchange continue to monitor and supervise the disclosure of information carried out by companies to the public, especially their investors.